our partner will be based in Paris. •From Latin America will come our other partner.•From America our partner will be based in the Silicon Valley at company headquarters.Our business requires a very high level of international experience and expertise. The initial personnel plan will involve 3 partners, 1 consultant, 1 strong editorial/graphic person with good staff support, 1 strong marketing person, an office manager, and a secretary. Later we may add more partners, consultants and sales staff. IX. Financial Plan: Pro-forma Income Statement 2001 2002 2003_________________________________________________________________________Sales $592,000 $775,000 $1,000,000Cost of Sales $159,000 $110,000 $151,000Other $1,000 $0 $0Total Cost of Sales $160,000 $110,000 $151,000Gross margin $432,000 $665,000 $849,000Gross margin percent 72.97% 85.81% 84.90%Operating expenses:Advertising/Promotion 10.% $36,000 $40,000 Public Relations 10% $30,000 $30,000 Travel 10% $90,000 $60,000 Miscellaneous 10% $6,000 $7,000 Payroll expense $194,750 $377,000 $432,000Leased Equipment $6,000 $7,000 $7,000Utilities 20% $12,000 $14,000 Insurance 20% $3,600 $2,000 Depreciation $0 $0 $0Rent 25% $18,000 $23,000 Payroll Burden $0 $0 $0Contract/Consultants $0 $0 $0Other $0 $0 $0Total Operating Expenses...
